Author Topic: Furniture Flipping for FIRE  (Read 1742 times)

frugalfoothills

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Furniture Flipping for FIRE
« on: July 23, 2018, 11:03:19 AM »
I've always had a knack for interior decorating/design, and a TON of stuff in my home is from thrift stores/Craigslist/secondhand market. I also sold a bunch of my own belongings earlier this year to help me pay off CC debt, but until recently it never dawned on me to try to put those skills to work for profit.

So far in July, I've made $250 buy buying cheap (less than $30) outdated furniture off Craigslist, flipping, and reselling. I have 3 other projects in the works that should wrap up by end of July. If those sales go according to plan, I think I will close the month at +$365 (net)! Not too shabby for about 20 hours work, which I actually quite enjoy.

For anyone interested in giving it a shot, tall dressers have been my easiest selling item. Pretty much guaranteed ROI.

SeaKayEl

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Re: Furniture Flipping for FIRE
« Reply #1 on: July 23, 2018, 11:55:26 AM »
I’m curious, what does “flipping” entail?  I guess that would depend on the condition and material it is made from?

Do you have any before/after pictures of your flips?

hgjjgkj

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Re: Furniture Flipping for FIRE
« Reply #2 on: July 23, 2018, 01:38:35 PM »
Can you chat more about the process? Are you rehabbing them or what?

frugalfoothills

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Re: Furniture Flipping for FIRE
« Reply #3 on: July 24, 2018, 10:13:59 AM »
I’m curious, what does “flipping” entail?  I guess that would depend on the condition and material it is made from?

Do you have any before/after pictures of your flips?

I've basically been choosing items that need cosmetic fixes only (outdated looking dressers, desks, etc.) and sanding/staining, painting, or some combo of the 2. Looking for stuff that shows basic signs of wear and tear with clean lines and no structural damage (drawers all work, nothing is falling apart.) I use chalk paint as you can apply with zero prep to the underlying wood.

Buy cheap, invest minimal cash (paint at $17 per quart, has lasted for 2-3 projects), turn around and sell. I do have pictures but I have never been able to get the attachment feature here to work for me! I will try again.

SeaKayEl

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Re: Furniture Flipping for FIRE
« Reply #4 on: July 24, 2018, 12:22:22 PM »
Sounds like a minimal investment overall between the cash and your time

Adam Zapple

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Re: Furniture Flipping for FIRE
« Reply #5 on: July 28, 2018, 04:39:43 AM »
$18 an hour for a side hustle that you enjoy sounds good to me.  Make sure you factor in fuel and wear/tear on your vehicle.  If you keep at it, I bet you'll find that sweet spot item that is cheap but can be flipped for huge profit.  Keep at it.  Maybe even look for collectible items that people don't realize are collectible.  My friend is doing this with coffee mugs and sugar jars, of all things.  Good luck.  Sounds like fun. 

JenniferW

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Re: Furniture Flipping for FIRE
« Reply #6 on: October 09, 2018, 02:13:40 AM »
Cool. :) I make about $23.50 an hour working 30 hours per month flipping stuff .. about $700 per month net profit after cost of goods sold and operating expenses.

I don't flip furniture but I do flip mostly electronics items, cd's & dvd's.   I go to flea market on weekends and salvation army on wednesday (1/2 off sale).   I use my phone to scan bar codes to get last sold price on ebay.  I also look them up by typing in text and doing picture searches.

I sell on ebay, craigslist & facebook marketplace.  I have a current inventory of about 200 items, 50 of which aren't yet listed (death pile).
« Last Edit: October 09, 2018, 02:27:01 AM by JenniferW »

MasterStache

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Re: Furniture Flipping for FIRE
« Reply #7 on: October 09, 2018, 01:31:08 PM »
Awesome! I made a lot of our furniture during our house rehab (several farmhouse inspired pieces) and had request to build more for money. I turned my passion for carpentry into a decent side hustle charging $25/hr (which is likely what my pay reduced down to after taxes, etc. as an engineer). It's fun when you can do something you enjoy and make money doing it.

lhamo

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Re: Furniture Flipping for FIRE
« Reply #8 on: October 09, 2018, 02:00:02 PM »
Can be a really fun/lucrative hobby if you enjoy it and have the space to do the work/store the pieces.  We don't have a garage in our current home and our basement is really small, so probably not something I'll pursue, but I keep it in the back of my mind if I start getting bored with gardening.

misshathaway

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Re: Furniture Flipping for FIRE
« Reply #9 on: October 10, 2018, 05:53:22 AM »
There is an HGTV show called "Flea Market Flip" that I like to watch if it comes on while I'm at the gym. It's a reality show where the contestants buy furniture at flea markets, rehab and repurpose the items, and sell them. I can do without the game part but I love watching how some of them remake the pieces. A good part of the show is watching them in the workshop. I get ideas for pieces I already have in my house. Might be enjoyable for somebody here who is interested in this sort of thing.

bcbaseballman

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Re: Furniture Flipping for FIRE
« Reply #10 on: October 10, 2018, 08:10:55 AM »
I go to auctions the majority of the weekends and buy furniture there. I don't repaint them or anything like that. Just wash them down and then sell them. I normally average a profit of about $500 a month doing this for 25-30 hours a month. I have a large back shed that normally has about 10 different pieces of furniture in it. I really enjoy doing this as well. Will be a great way to make extra money once FIRE'd.